Understanding PRINCE2® vs PMBOK® Guide - Fifth Edition

Due to the recent launch of our PRINCE2® Foundation and Practitioner programmes, many of our clients have been asking us about the difference between The Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide)  Fifth Edition, Project Managemen...

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Understanding PRINCE2® vs PMBOK® Guide - Fifth Edition

| Wednesday, 18 September 2013

Due to the recent launch of our PRINCE2® Foundation and Practitioner programmes, many of our clients have been asking us about the difference between The Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide)  Fifth Edition, Project Management Institute, Inc., 2013. and the PRINCE2® Methodology.

If youve been wondering the same thing, were here to tell you that The Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide)  Fifth Edition, Project Management Institute, Inc., 2013. and the PRINCE2® Methodology can be used together to provide a comprehensive approach to successful project management.

What is PRINCE2®?

Integrated project management method that provides a set of processes, themes and principles that can be tailored to manage any type of project from start to finish

A PRINCE2® project is led primarily from the top with the Project Board providing essential input

PRINCE2® provides a framework of what needs to be done, by whom and by when

For example, in PRINCE2® a critical step in creating a plan is estimating. PRINCE2® does not say how estimating should be done as there are a number of techniques that can be applied depending on the project context

Contains the globally recognised standard and guide for the project management profession that covers a broad spectrum of competencies such as leadership and negotiation; and techniques such as Earned Value Management and Risk Analysis

PMBOK® Guide - Fifth Edition provides a range of tools and techniques of how those things can be done

For example, PMBOK® Guide - Fifth Edition provides an explanation and analysis of the range of estimating techniques available so that the planner can judge which one is most suitable to use

Here is an overview of how these two approaches can work in a complementary way:

PRINCE2® Principles, Themes and Processes are consistent with the PMBOK® Guide - Fifth Edition , but PRINCE2® does not include all the knowledge areas and details specified in the PMBOK® Guide - Fifth Edition

PRINCE2 focuses on critical areas, so a project manager may still need to draw on the depth and range of the PMBOK® Guide - Fifth Edition and other sources to complete some areas of project management work

The process clarity and the strengths of PRINCE2® is balanced by the depth of the PMBOK® Guide - Fifth Edition

PRINCE2® becomes useful to Project Professionals because, as a Methodology, when used in combination with the information in the PMBOK® Guide - Fifth Edition , would enable greater chance of project success.

The intention of PRINCE2® is to organise and focus project management knowledge in a manner adaptable to a wide range of project environments

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